Copper futures rise on global cues, spot demand

NEW DELHI, Aug 18:  Buoyed by a firm global trend, copper prices rose Rs 2.25, to Rs 427 per kg in futures trade today.
At the Multi Commodity Exchange, copper for delivery in far-month November traded higher by Rs 2.25, or 0.53 per cent, to Rs 427 per kg in a business turnover of 8 lots.
Similarly, the metal for delivery in August edged up by Rs 2.15, or 0.52 per cent, to Rs 417.95 per kg in 358 lots.
Analysts said a firming trend in base metals at the London Metal Exchange (LME)and rising physical demand at domestic spot markets influenced copper futures here.
Meanwhile, copper for delivery in three months climbed 0.20 per cent to USD 6,881 per tonne at the LME, while at Shanghai exchange, it advanced 0.40 per cent to 49,090 yuan (USD 7,986) per tonne. (PTI)


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